Vodafone Cuts 500 Jobs

8:45 AM -- Vodafone UK said today it will cut 500 jobs across the company to reduce its cost base in the U.K.

The job losses are part of the cost reduction program CEO Vittorio Colao introduced in November to shave off £1 billion (US$1.5 billion) in costs per year by the 2011 financial year. (See Vodafone to Slash Costs and Vodafone Adjusts to Hard Times .)

About 170 jobs will go from the operator's Newbury headquarters, and the rest of the cuts will come from different locations and across the company.

"Vodafone UK has today announced reductions to its operating costs in order for it to compete more effectively in the UK market," said the operator in an emailed statement to Unstrung.

But at the same time, Vodafone is in the process of opening 50 new retail stores, which will bring the total to 400 in the country. And the operator is creating new positions in the areas of online customer care and total communications services for enterprise customers.

— Michelle Donegan, European Editor, Unstrung

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